On 1 January 2005, Higher Education Loan Program (HELP) replaced Higher Education Contribution Scheme (HECS). Existing HECS debts have been rolled over into HELP. The same rules for compulsory repayments under HECS apply for HELP debts.
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HECS-HELP - SFSS rate 2021-2022
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Help repayment income
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Repayment rate
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Below $47,014
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Nil
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$47,014 - $54,282
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1.0% of HRI
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$54,283 - $57,539
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2.0% of HRI
|
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$57,540 - $60,992
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2.5% of HRI
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$60,993 - $64,651
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3.0% of HRI
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$64,652 - $68,530
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3.5% of HRI
|
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$68,531 - $72,642
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4.0% of HRI
|
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$72,643 - $77,001
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4.5% of HRI
|
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$77,002 - $81,621
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5.0% of HRI
|
|
$81,622 - $86,519
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5.5% of HRI
|
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$86,520 - $91,710
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6.0% of HRI
|
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$91,711 - $97,213
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6.5% of HRI
|
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$97,214 - $103,045
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7.0% of HRI
|
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$103,046 - $109,227
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7.5% of HRI
|
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$109,228 - $115,679
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8.0% of HRI
|
|
$115,680 - $122,729
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8.5% of HRI
|
|
$122,730 - $130,092
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9.0% of HRI
|
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$130,093 - $137,897
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9.5% of HRI
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$137,898 and above
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10.0% of HRI
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From 1 July 2009 *HRI is the sum of taxable income plus any total net investment loss, (which includes net rental losses), total reportable fringe benefits amounts, reportable super contributions and exempt foreign employment income.
An exemption applies for taxpayers whose family income is below the Medicare Levy upper threshold.